Amazon Acquires Ring Video Doorbell Startup in Latest Bid to Own the Smart Home [Fortune]
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Source: Fortune
Amazon is acquiring video doorbell startup Ring, just the latest in a series of moves by the retail giant to dominate the fast-growing market for Internet-connected home devices. The deal, announced on Tuesday, gives Amazon a prominent home security company and, potentially, more tech firepower in its push to allow its delivery people to drop off packages inside buildings , where thieves can’t easily steal them. The terms of the acquisition were undisclosed, although news site Axios reported that Amazon likely paid more than $1.2 billion . “Ring’s home security products and services have delighted customers since day one,” Amazon said in a statement. “We’re excited to work with this talented team and help them in their mission to keep homes safe and secure.” Over the past few years, Amazon has invested heavily in the smart home, a highly competitive field that also includes Apple and Google’s Nest. The category includes everything from Internet-connected spea
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